104 105 THE PETROLEUM EQUIPMENT & SERVICES ASSOCIATION THE PETROLEUM EQUIPMENT & SERVICES ASSOCIATION BY LESLIE BEYER, PRESIDENT F or the past few years, much discussion has focused on the question of when the mar- ket will recover. While some industries are new to the concept of using technology to overcome chal- lenges, the oil and gas industry has utilized this practice since its origins along the Oil Creek Valley in Pennsylvania.Without the combination of inno- vative minds and new technologies, Edwin Drake would never have completed his well and the society-changing impacts of that effort may not have been realized.  Today, as the oil and gas industry continues to face challenges, from the economic difficulties brought on by lower price markets, to the demands of chang- ing regulations and calls by some for a movement away from fossil fuels, innovative minds and technol- ogy will once again answer the call. Led by the efforts of the oilfield service, supply, and manufacturing companies that make up the Petroleum Equipment & Services Association (PESA), one only has to look across the shale oil and gas regions to see this first-hand. Low prices have demanded greater efficiency and PESA mem- bers, working with their customers and partners, have delivered.  Drilling times have been cut by weeks through a combination of more efficient rigs and well-honed drilling crews.  In addition to a more efficient drilling operation, the oil and gas industry has proactively advanced